Finance

Baone Twala on the BRICS Bank

27 April 2015

By Salil Tripathi, Senior Advisor, Global Issues, IHRB

Baone Twala is a candidate attorney at the Centre for Applied Legal Studies (CALS), a human rights organisation and law clinic based at the University of the Witwatersrand in South Africa.

She works in CALS’ business and human rights unit, focusing on international and regional advocacy. Baone is currently leading CALS' work on the new international development bank being set up by the emerging economic powers – Brazil, Russia, India, China, and South Africa, collectively known a BRICS.

IHRB’s Salil Tripathi spoke to Baone Twala by phone, discussing the rationale of the BRICS Bank, now known as the New Development Bank (NDB). Baone stresses the importance of an international financial institution that is not under the control of major economic powers, and emphasises the need for greater transparency in negotiations and greater accountability.

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